Nationwide Mortgages

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Last updated on 22 March 2021.

Nationwide Mortgages FAQ

Who are Nationwide?

Nationwide is a long-standing building society, which means it’s owned by its users. Nationwide specialises in consumer borrowing and saving. Their range of financial products includes current accounts, savings accounts and ISAs, mortgages, loans, credit cards, and insurance and investment products.

Nationwide are well known for their range of mortgage products for lenders from all the different walks of life. The mortgage section of their website also includes useful guides about mortgages and helpful tools such as mortgage calculators, to help you work out how much you can afford to borrow.

What is a Nationwide mortgage?

Nationwide mortgages offer borrowers a loan to enable them to purchase a property. This might be for residential purposes with a residential mortgage or for rental purposes with a buy-to-let mortgage. Repayments are expected on a monthly basis, with interest added on top.

What kinds of mortgages do Nationwide offer?

As with many lenders, Nationwide offer mortgages with fixed terms, variable rates and even tracker rates. These types of mortgage cater to all sorts of people, whether they’re buying their first home, investing in buy-to-let or simply existing homeowners who wish to move.

What is a part-and-part mortgage?

Providers such as Nationwide offer part-and-part mortgages, a hybrid of a capital repayment and an interest-only mortgage. Part of your mortgage would be paid off as capital repayment at the end of the mortgage term, while you would need to have a repayment plan in place to pay off the interest-only balance when the mortgage term ends.

Can I repay a Nationwide mortgage back early?

Nationwide permit borrowers to make early payments, otherwise referred to as overpayments, but it’s important to always factor a possible early repayment charge (ERC) into your payment plan after having checked the terms and conditions. An ERC means your provider will be charging you a higher rate for paying back sooner.

How do I apply for a Nationwide mortgage?

You can apply for a mortgage with Nationwide online, over the phone or at your local branch. Always make sure to have some form of ID, as well as tax bills and bank statements, to help your provider build a good picture of you and your finances.

Does my credit score matter when applying for a mortgage?

Yes, you will want to have your credit score as high as you can get it. Higher credit scores denote great creditworthiness, which enables you to unlock a greater variety of mortgage products, complete with interest rates better suited to your requirements. Low scores will limit your mortgage options because of the perceived higher risk.

What is the interest on a typical Nationwide mortgage?

Interest rates on mortgages for any lender aren’t fixed at a specific level, and they are heavily dependent on base rate, trends in the property market and the rates charged by competitors. Mortgage rates move frequently, so it’s important to know which level of interest you could be comfortable paying back on a mortgage with Nationwide or any other lender.

How do I know if a Nationwide mortgage is right for me?

If you wish to know whether a specific Nationwide mortgage deal is suitable for you or if you might be better off finding a cheaper mortgage with a more affordable rate of interest, NerdWallet’s dedicated comparison table can help you find the best product to suit your needs.

What offers can I get on a mortgage?

Some lenders might try to entice you to take out a mortgage with them with time-limited offers such as cashback, a discount on fees or even highly exclusive levels of interest - although the latter would be available to certain customers only.

Services offered by this provider may change over time. Always check Ts&Cs.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE